EQT to Invest in Australian School Management Software Developer Compass
By Dominic Chopping
STOCKHOLM--EQT said it would invest in Australian school-management software developer Compass.
The Swedish private-equity company said Wednesday that as part of the deal Advent Partners will exit its investment in Compass, which was initiated six years ago.
Founded in 2010 and headquartered in Melbourne, Australia, Compass is a cloud-based school management platform used by more than 3,000 schools and more than four million parents, teachers, and students. It has recently expanded into Ireland and the U.K.
EQT is investing in Compass through its BPEA EQT Mid-Market Growth Partnership fund. Compass founder and chief executive John de la Motte will remain a significant shareholder following the deal, EQT said.
Financial details weren't disclosed.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
August 21, 2024 01:49 ET (05:49 GMT)
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